FMC Technologies: 2Q Earnings Snapshot
LONDON (AP) _ FMC Technologies Inc. (FTI) on Wednesday reported second-quarter profit of $97 million.
On a per-share basis, the London-based company said it had profit of 21 cents. Earnings, adjusted for non-recurring costs, came to 39 cents per share.
The results beat Wall Street expectations. The average estimate of 26 analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The provider of equipment and services to energy companies posted revenue of $3.43 billion in the period, which also beat Street forecasts. Thirty analysts surveyed by Zacks expected $3.26 billion.
FMC Technologies shares have risen 35% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. In the final minutes of trading on Wednesday, shares hit $26.38, a decrease of 12% in the last 12 months.